Goldman About to Score Big Win Financing Apple Products

Goldman About to Score Big Win Financing Apple Products

The Goldman Sachs option, however, sounds like a more financially feasible route to go down.

It's been reported in the last few hours that Goldman Sachs is now in talks with Apple to offer new financing options.

Talks between the iPhone maker and the Wall Street bank are ongoing and could still fall apart, the Journal reported.

In the past two years, Goldman Sachs has been pivoting to more consumer-based banking as its traditional investment banking has slumped. Two, is Goldman trying to make a push into credit cards with this move? Paying for expensive goods, such as Apple's latest iPhone model which is worth at least $999, often carries high-interest rates.

Citing people familiar with the matter, WSJ says Goldman Sachs desires to team up with Apple as it seeks to grow its consumer lending business, and hopes to ultimately offer another financing option for shoppers looking to buy essentially anything from Apple's website. Through the upgrade program, a user now pays $49.91 a month for a 64 gigabyte iPhone X with AppleCare+ coverage included. There is Apple's iPhone Upgrade Programme and their numerous financing options, plus mobile phone operators set out their own pay-monthly schemes for customers.

The upgrade program is now run through Citizens Financial Group, a Rhode Island-based bank. Apparently, Goldman Sachs wants a part of that action, although whether it would be as a replacement for CFG or an additional option isn't clear.



Latest news

Has $6.85 Million Position in British American Tobacco plc (BTI)
British American Tobacco p.l.c. (NYSE: BTI ) is presenting price to cash flow of 52.38 and free cash flow concluded as 54.52. New York State Teachers Retirement Systems invested in 7,950 shares or 0% of the stock. 110 are owned by Oakworth Capital.

Reports six injured in Melbourne hot air balloon crash
Five ambulances are reportedly at the scene and ambulance staff say at least six people are being treated for injuries. It is likely the crash will be investigated, a spokesperson for the Civil Aviation Safety Authority told AAP.

Flu outbreak closes Cullman County schools Thursday and Friday
Cullman City Schools issued a statement, saying the district monitors absences daily and they are now at normal levels. He also said Cold Springs Elementary School reported a large number of students out today.

Republic Services, Inc. (RSG): Insider Trading and Ownership Analysis
Kames Capital Plc accumulated 18,582 shares. (NYSE:RSG) has "Outperform" rating given on Friday, July 28 by BMO Capital Markets. It is positive, as 19 investors sold OPK shares while 58 reduced holdings. 47 funds opened positions while 152 raised stakes.

SunTrust Banks' (STI) "Hold" Rating Reiterated at B. Riley
This is calculated by taking weekly log normal returns and standard deviation of the share price over one year annualized. For the trailing twelve months, this company is paying dividend with the payout ratio of 2.34% to its shareholders.

Other news